ITDC to transfer Hotel Jaipur Ashok to Rajasthan govt

Indian Tourism Development Corporation (ITDC) has executed a pact to transfer Hotel Jaipur Ashok to the Rajasthan government at a negotiated price of Rs 14 crore.
A tripartite Memorandum of Understanding (MoU) has been executed amongst ITDC, Ministry of Tourism and Government of Rajasthan for transfer of Hotel Jaipur Ashok to the state government at a "negotiated value of Rs 14 crore without any liabilities and encumbrances", ITDC said in a filing to BSE.
The Corporation had earlier said in a letter dated January 22, 2016 that Rajasthan government, which had leased the property of Hotel Jaipur Ashok to ITDC, has desired it back.

The letter also mentioned that the process had been initiated by the tourism ministry to issue the request for proposal for appointment of transaction advisor who would value the properties and advise government on transaction.
Shares of ITDC today closed at Rs 510.20 per scrip on BSE, up 3.20 per cent.